Trump extends tariff suspension on China for another 90 days

US President Donald Trump announced Monday that he signed an executive order that will extend tariff suspension on China for another 90 days.

"All other elements of the Agreement will remain the same. Thank you for your attention to this matter!" Trump said on Truth Social.

According to the order, the US will maintain the suspension of heightened tariffs on Chinese imports until Nov. 10.

A 10% reciprocal tariff remains in effect during the suspension.

Trump on April 2, announced sweeping tariffs on countries and later established a 10% baseline rate that would be imposed on countries while individual negotiations played out. The president imposed an Aug. 1 deadline for nations to strike deals with his negotiating team or face heightened import duties.

He gave China until Aug. 12 to reach an agreement with his administration or face tariffs above 80%.

The Chinese Commerce Ministry said after Trump's announcement that Beijing will suspend additional tariffs on US goods for 90 more days.

While maintaining tariffs on US goods at 10%, the ministry said China will take action to address non-tariff barriers facing American products.